Accounting processes can be complex, so automating them often feels counterintuitive. But four everyday accounting tasks can be automated directly within QuickBooks. Payroll automation, for example, is an easy way to eliminate manual, repetitive paperwork in favor of a recurring payment system like ACH transfers, EFTs, and credit card transactions. Other workflows like AP invoice data extraction and complex payment approval processes are also ripe for automation.
Create a workflow
Several ways to automate your accounting processes within QuickBooks via built-in features and third-party integrations exist. Let’s look at four everyday accounting tasks that are easy to automate directly within QBO.
Many small businesses require multiple people to review and approve invoices or bills before they get paid. It can be time-consuming, primarily when team members are spread across the country or the globe. Luckily, using automation tools such as methods can automate the process of approving, facilitating seamless communication and effortless accessibility of information for all parties involved.
Uncategorized transactions can be a significant headache for accountants, especially when they involve recurring fees. Use a tool to automate this process by creating a zap that automatically imports all uncategorized transactions into your client’s QBO account. It can eliminate a lot of back and forth when reconciling accounts and prevent missed revenue opportunities and cash flow issues. The zap can also include any additional information you need to complete the transaction, such as the customer or company name and amount.
Create a trigger
The best way to connect your accounting system to Salesforce is by using a trigger. A trigger is a code that sends a webhook to your salesforce account when a particular event occurs in QuickBooks online. It can also perform a specific action, such as updating an existing record or creating a new one.
To create a trigger, click the “create a logic app” button on the left side of the dashboard and select “QuickBooks API.” Enter a name for your logic app and choose a subscription, resource group, and app service plan. Next, select “Webhook + API” from the list of available scenarios.
Whether you’re working with a small or large organization, there are many benefits to automating your accounting processes. You’ll save time, reduce errors, and streamline operations. Additionally, it can boost decision-making skills and optimize cash flow. However, it’s important to remember that automation only sometimes works as well as humans. It is why you need a set of reliable, tested workflows that can be run without your oversight.
Create a rule
While you can use QuickBooks rules to automatically document a wide range of transactions, recurring payments are a particular area for automation. This feature allows you to collect the money you’re owed without your customer or client lifting a finger.
To create a rule:
- Hover over banking in the navigation bar and select banking (or transactions > banking).
- Click the rules tab.
- Select a new rule to open a window to create an auto-add or manual rule.
Auto-add rules run when you sign in or upload a file and apply to any bank transactions on the For Review tab that meet the conditions of your rule.
In the Name field, enter a name for your rule that includes only letters and numbers. Then in the category dropdown menu, choose a category that will be applied to your transactions. You can also select whether the transaction should be categorized as a money-in or money-out. You can also add a description to help you identify a specific type of transaction.
Create a filter
When it comes to streamlining QuickBooks workflows, many of us are looking for the quickest and easiest ways to do so. Fortunately, this is often possible thanks to third-party integrations that open up new features and automation you wouldn’t otherwise be able to access through the QuickBooks platform alone.
For example, let’s say your company needs to process HOA fees. Typically, this involves sending invoices to members who pay online or via check. It is a great way to ensure payments are made on time, but it’s also a hassle when someone needs to remember to submit their payment. Establishing an automated workflow that dispatches invoices to the email addresses of members upon submission is an efficient and effortless procedure.
To do this:
- Create a data destination and choose QuickBooks Online as the type.
- Create filter rules based on questions in your form using data reference expression language.
- Match All: Forms will be sent to the destination if they meet all of the listed filter requirements.
- Match Specific: Only forms that meet the specified criteria will be sent to the destination.
Create a report
While some aspects of accounting should be left to humans (so you can avoid a misunderstanding with a customer, for instance), plenty of processes can be automated. It is especially true when it comes to generating reports.
QuickBooks Online has many standard reports ready to go, but you can also make your management reports or create your dashboard. These reports are perfect for providing in-depth information to executives and other managers.
There are many ways to customize your reports in QBO, including changing the date range and accounting method. You can also select different groups to categorize your data, change the layout of your rows and columns, and add or remove data fields. You can modify the header section to include a company name and logo or edit the report title. You can even choose whether to display negative numbers or not.